UK Home Office Plans $7B Bitcoin Sale from Seized Assets

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The UK Home Office is preparing to sell a massive stockpile of seized Bitcoin worth at least $7 billion, according to The Telegraph. The haul includes 61,000 BTC confiscated from a Chinese Ponzi scheme.

In 2024, a woman was jailed for laundering 150 BTC tied to the fraud. Despite victims’ requests for restitution, UK authorities are seeking court approval to transfer the funds to the Treasury.

Chancellor Rachel Reeves, facing a budget deficit, has taken interest in the sale. She has previously emphasized the need for clearer crypto regulations to boost fintech growth and investor confidence.